Colgate's Board Authorizes New 50 Million Share Repurchase Program

NEW YORK--(BUSINESS WIRE)--
Reflecting the Company's positive outlook, Colgate-Palmolive Company's
Board of Directors today authorized a new share repurchase program
providing for the repurchase of up to 50 million common shares. Pursuant
to the authorization, the Company currently expects to purchase 50
million common shares over the next two to three years. The shares may
be purchased in the open-market or privately negotiated transactions. As
of June 30, 2011, the Company had approximately 486 million shares of
common stock outstanding.

About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer
products company, tightly focused on Oral Care, Personal Care, Home Care
and Pet Nutrition. Colgate sells its products in over 200 countries and
territories around the world under such internationally recognized brand
names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex,
Sorriso, Kolynos, elmex, Tom's of Maine, Sanex, Ajax, Axion, Soupline,
and Suavitel, as well as Hill's Science Diet and Hill's Prescription
Diet. For more information about Colgate's global business, visit the
Company's web site at http://www.colgate.com.
To learn more about Colgate's global oral health education program,
Bright Smiles, Bright Futures™, please visit http://www.colgatebsbf.com.

CL-C

Cautionary Statement on Forward-Looking Statements

This press release may contain forward-looking statements. Such
statements may relate, for example, to cash generation, financial goals
or share repurchase levels. These statements are made on the basis of
our views and assumptions as of this time and we undertake no obligation
to update these statements. We caution investors that any such
forward-looking statements are not guarantees of future performance and
that actual events or results may differ materially from those
statements. Investors should consult the Company's filings with the
Securities and Exchange Commission (including the information set forth
under the caption "Risk Factors" in the Company's Annual Report on Form
10-K for the year ended December 31, 2010) for information about certain
factors that could cause such differences. Copies of these filings may
be obtained upon request from the Company's Investor Relations
Department or the Company's web site at http://www.colgate.com.